Peter Katevatis - Mar 27, 2019
Our monthly budget has become a litany of small subscription fees, you are not alone if you are feeling subscription fatigue
If you take a close look at your credit card statement every month you will see many monthly charges. Instead of large lump sum payments, many corporations have realized that today’s consumer would much prefer paying in small nibbles than big bites.
This is most evident in video streaming services. We used to have a choice of a carrier (Rogers, Shaw, Telus, Bell) but they were basically all the same service in a different wrapper. With consumer outrage over massive bills ($200+) the cord cutting began. We now have today’s subscription service model, our choices include:
Netflix, Crave, TSN Direct, Sportsnet Now, CBS All Access, MLB, Hulu, Amazon Prime Video, YouTube Premium, HBO, Showtime and coming soon… Apple, Disney Plus, WarnerMedia and NBCUniversal.
In the 13th edition of Deloitte’s annual Digital Media Trends survey, 47% of US consumers say they are frustrated by the growing number of subscriptions & services required to watch what they want. As a consumer, we love our choice and much prefer to pay for services we use. However, with all these companies offering individuals direct services, it will not be long until we get an aggregator service that will give you access to all of these video services for one price. Oddly, this is exactly the model of the “old” system.
From a budgeting point of view, you probably don’t NEED all of these subscription services. There may be only one or two shows you like to watch on HBO which commits you into the monthly fee. Try to review your subscriptions regularly and cut out the ones you don’t need. If you find a big hole in your life without a certain service, you are always welcome to add it back in the future.
The other benefit of this review is that it might motivate you to USE the things you are paying for. It reminds us about all the services and conveniences we pay for regardless of how often we use them. Have a nice day… I’m off to the gym.